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Financial Services UK

  • May 12, 2025

    Craig Wright Hit With Legal Action Ban Over Meritless Claims

    Computer scientist Craig Wright has been barred from bringing legal action in the U.K. for three years, with a London court ruling on Monday that he used the courts to "terrorize perceived opponents" with meritless cases over claims he invented bitcoin.

  • May 12, 2025

    Adams Street Clinches €270M European Venture Fund

    Private markets investment manager Adams Street Partners LLC on Monday announced that it held the final closing for its latest European-focused venture fund after securing €270 million ($300 million) in capital commitments.

  • May 12, 2025

    Wells Fargo Whistleblower Claims Redundancy Was A Sham

    A former compliance officer at Wells Fargo asked the Employment Tribunal on Monday to order the bank to reinstate him, based on what he described as clear evidence that he was dismissed after he blew the whistle on alleged market abuse.

  • May 12, 2025

    NYSE Operator Blocks Crypto Co. From Using 'Ice' Branding

    U.S. financial services conglomerate Intercontinental Exchange has convinced a Dutch court to bar cryptocurrency company Ice Labs from using its "Ice Open Network" branding, arguing the public would likely assume the crypto firm was related to the international finance giant.

  • May 12, 2025

    JP Morgan Plans To End UK WeRealize Case Amid Greek Suit

    J.P. Morgan International Finance has said it intends to drop a legal claim in England that accused fintech company WeRealize of planning to breach the terms of a joint venture agreement in the latest chapter of the protracted legal battle between the business partners.

  • May 12, 2025

    ICBC Bank Sued Over €795K Fraudulent Transfer By Hacker

    A company has sued ICBC Standard Bank for allegedly transferring €795,000 ($894,000) out of its account on the instructions of an alleged hacker impersonating its director, saying that the lender is liable to refund it in full.

  • May 12, 2025

    Investment Biz Boss Sues Refinitiv Over Incorrect KYC Info

    The chief executive of an investment business has sued data and analytics giant Refinitiv for allegedly holding inaccurate information on its "know-your-client" database that incorrectly stated that her company was associated with a sanctioned individual.

  • May 12, 2025

    WTW Launches Insurance Solution For FinTech Companies

    Global insurance broker Willis on Monday launched an insurance product it said would meet the needs of financial technology companies as they look to grow.

  • May 12, 2025

    Most Fail To Verify Fraud Requests, Finance Trade Body Finds

    Only one in 10 people who takes steps to protect themselves from financial fraud checks the logic of requests for action, according to research published Monday by Take Five, an anti-fraud campaign led by UK Finance.

  • May 12, 2025

    LCP Forecasts Pensions Bill 'Crammed' With Policy Changes

    The U.K. government is likely to use forthcoming pensions legislation to include a number of reforms that have been planned for years, a consultancy said Monday.

  • May 12, 2025

    Japan's Dai-Ichi Increases Stake In UK Asset Manager To 15%

    Japanese life insurer Dai-ichi Life said Monday that it will increase its stake in Capula, a British hedge fund, to 15% as it seeks to grow its asset management business and diversify risk.

  • May 09, 2025

    Ex-Meinl Bank CEO Extradited To US On $170M Odebrecht Rap

    The former CEO of Austrian lender Meinl Bank AG was extradited from the U.K. and pled not guilty Friday to money laundering charges, stemming from allegations that he helped Odebrecht SA hide $170 million in funds used to bribe officials around the world and defraud the Brazilian government. 

  • May 09, 2025

    CMA Weighs Viagogo Bid To Buy Back IP From StubHub Sale

    The U.K.'s competition watchdog said Friday it has launched a consultation into a request from online ticket reseller Viagogo to reacquire the rights to some non-British domain names and trademarks from its former business StubHub International.

  • May 09, 2025

    Brokerage Risk Pro Loses Early Battle In Whistleblowing Case

    An employment judge has rejected a compliance manager's bid for interim relief in a row with her former employer because he did not consider it likely that a tribunal will decide she was fired from the brokerage for making protected disclosures.

  • May 09, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen a subsidiary of State Street Corp. sue British sports betting giant Entain, Manolete Partners and HSBC tackle action just weeks after signing a £17 million revolving credit facility agreement, and a commercial fraud claim launched by EFG Bank against Mirabaud & CIE.

  • May 09, 2025

    BCLP And CMS-Led Fintech IForex Weighs London IPO

    Online trading platform iForex Financial Trading Holdings Ltd. said Friday it is considering floating its shares on London's main market to raise cash to boost its brand and invest in technology.

  • May 09, 2025

    BoE Plans To Abolish Lending Limits For Building Societies

    The Bank of England has proposed withdrawing the rulebook for building societies that limits how many fixed-rate mortgages most can offer, a landmark decision that will put the sector on a level playing field with banks.

  • May 09, 2025

    Nigeria Can Argue £15M Award Was Obtained By Fraud

    Nigeria can attempt to set aside a $15 million award in favor of a businessman who was the target of an undercover operation by the country's state security, after a London judge dismissed his bid to strike the case out.

  • May 09, 2025

    Brothers Plead Guilty To FCA Insider Dealing Charges

    Two brothers admitted on Friday to using inside information to profit from dealing in shares over four years, following a prosecution brought at a criminal court in London by the Financial Conduct Authority, the watchdog said.

  • May 09, 2025

    EU Fund Managers Call To Simplify EU Sustainability Package

    Europe's fund managers on Friday backed the European Union's bid to streamline the bloc's sustainability regulations, but warned "excessive" reductions in reporting requirements could limit investors' access to crucial environmental, social, and governance data.

  • May 09, 2025

    FCA Relaxes Asset Manager Investment Research Rules

    The Financial Conduct Authority relaxed its rules on Friday to give U.K. fund managers greater freedom in decisions on how to finance investment into research on public capital markets, part of a wider push to improve international competitiveness in the sector.

  • May 09, 2025

    'Bargain Hunt' Art Expert Pleads Guilty To Terrorist Financing

    An art gallery founder and reality TV art expert pleaded guilty to terrorist financing offenses at a London criminal court Friday.

  • May 08, 2025

    Court Upholds CMA's £99M Thyroid Drug Price Fines

    A U.K. appellate court has not only upheld a finding that drug company Advanz excessively inflated the price of its thyroid tablets for the National Health Service but also reimposed fines against the company's former owner that a lower tribunal had cut by almost a third.

  • May 08, 2025

    'Bargain Hunt' Art Dealer Charged Under Terror Financing Law

    Police charged an art dealer who featured in a hit BBC show under laws against financing terrorism on Thursday, making him the first person ever to face charges in the U.K. for allegedly failing to make obligatory regulatory disclosures.

  • May 08, 2025

    UK Watchdog Fines Fuel Trader For Ignoring Info Request

    The U.K. government body responsible for implementing and enforcing financial sanctions said Thursday that it has fined a British shipping company for ignoring a request to provide information relating to a "large and complex investigation" involving Russia's largest shipping company.

Expert Analysis

  • Russian Bankruptcy Ruling Shows Importance Of Jurisdiction

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    The U.K. Supreme Court's recent decision not to assist a Russian receiver in Kireeva v. Bedzhamov will be of particular interest in cross-border insolvency proceedings, where attention must be paid to assets outside the jurisdiction, and to creditors, who must consider carefully where to apply for a bankruptcy order, say lawyers at McDermott.

  • Decoding Arbitral Disputes: UK Awards Versus EU Judgments

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    The Court of Appeal of England and Wales' recent refusal to enforce a €855 million Spanish judgment inconsistent with earlier binding arbitral awards in England provides crucial guidance for practitioners navigating the complexities of cross-border disputes involving arbitration agreements and sovereign states, says Josep Galvez at 4-5 Gray's Inn.

  • How Listing Act Measures Will Modernize EU Capital Markets

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    The new European Union Listing Act, in line with the capital markets union initiative, aims to simplify market access for small and midsize enterprises, laying a foundation for a more integrated framework and representing a modernization milestone, say lawyers at Cleary.

  • Insider Info Compliance Highlights From New FCA Guidance

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    The Financial Conduct Authority's recent guidance to companies on identifying inside information clarifies the regulator's expectation of case-by-case assessment, helpfully highlighting that abuse of U.K.-regulated markets can arise earlier than some might think, say lawyers at Sullivan & Cromwell.

  • A Look At PCAOB's Record-Breaking Enforcement In 2024

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    The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.

  • 2 Cases May Enlighten UK Funds' Securities Litigation Path

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    Following recent nine-figure settlements in securities class actions against Apple and Under Armour, U.K. pension funds may increasingly lead U.S. shareholder derivative suits, advocating for transparency, better risk management and stronger governance practices, say lawyers at Labaton Keller.

  • Interpreting Newly Released Consumer Fraud Complaints Data

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    The Financial Ombudsman Service’s latest complaint data focuses on scams and customer service, and demonstrates that as fraud is becoming rapidly more complex, financial regulators need to acknowledge that technology is here to stay and work together with firms to protect consumers, say lawyers at RPC.

  • Applying New FCA Guidance On Control Of Financial Firms

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    Buyers seeking to acquire or increase their stakes in U.K. financial services firms can streamline prudential review of their transactions by understanding the Financial Conduct Authority’s recently published guidance on updated change-in-control regulations, says Mark Chalmers at Davis Polk.

  • Anticipating The UK's Top M&A Trends In 2025

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    Conversations with market participants are focusing on five key questions about 2025's transactional markets, ranging from issues of artificial intelligence, to the boom in takeovers and increased regulatory scrutiny, says Layla D’Monte at King & Spalding.

  • Businesses Should Expect A Role In Tackling Fraud Next Year

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    If one word sums up a key trend in financial crime enforcement in 2024, it would be fraud, as enforcement agencies clamped down on consumer-focused crime — and businesses will need to be prepared to play a part in 2025 with the coming of the "failure to prevent fraud" offense, says Jessica Parker at Corker Binning.

  • What FCA's 2024 Changes Suggest For Enforcement In 2025

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    Though the Financial Conduct Authority is likely to enter 2025 hungry for enforcement wins after fielding intense criticism in 2024 over proposed policy amendments, firms can glean ideas for mitigating their risk from heightened scrutiny by studying the regulator's changing behavior from the year just past, says Imogen Makin at WilmerHale.

  • How The Wirecard Judge Addressed Unreliability Of Memory

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    In a case brought by the administrator of Wirecard against Greybull Capital, High Court Judge Sara Cockerill took a multipronged and thoughtful approach to a common problem with fraudulent misrepresentation claims — how to assess the evidence of what was said at a meeting where recollections differ and where contemporaneous documentation is limited, says Andrew Head at Forsters.

  • Decoding Arbitral Disputes: Cross-Border Contract Lessons

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    A U.K. court's decision this month in Banco De Sabadell v. Cerberus provides critical lessons for practitioners involved in drafting and litigating cross-border investment agreements, and offers crucial insight into how English courts apply foreign law in complex cross-border disputes, says Josep Galvez at 4-5 Gray's Inn. 

  • Practical Considerations For Private Fund Side Letters

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    Side letters are a common way of formalizing negotiated arrangements between a private fund and a particular investor — and as the number and length of side letters per fundraise steadily climb, managers must consider the material legal risks carefully, say lawyers at Dechert.

  • Preparing For The Next 5 Years Of EU Digital Policy

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    The new European Commission appears poised to build on the artificial intelligence, data management and digital regulation groundwork laid by President Ursula von der Leyen's first mandate, with a strong focus on enforcement and further enhancement of previous initiatives during the next five years, say lawyers at Steptoe.

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